Boustead Signs $2.8 bln Contract with Malaysian Navy

Malaysian conglomerate Boustead Holdings Bhd said on Thursday it had signed a 9 billion ringgit ($2.8 billion) contract to supply six patrol vessels with littoral combat ship capability to the Royal Malaysian Navy.

Delivery of the first ship is planned in 2017, and after that one vessel every six months, according to the company's filings to the stock exchange. All the ships are expected to have been delivered by the end of 2021.

Reporting By Yantoultra Ngui